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Old 10-04-2008, 08:42 PM
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Will the financial bailout result in an increase in individual tax rates?

Can somebody explain to me how the next President can even think of reducing the individual tax rates? Who is going to fund the deficit? How are we going to pay for the programs that are espoused by both the Presidential Candidates? Which programs can possibly be cut, if they are not cut, then either the Treasury has to borrow more money or increase the taxes?

Its ludicrous to believe that the US can raise infinite amounts of money from Overseas investors without the prospect of raising interest rates!

Taxguru, can you please explain how we can cut taxes at this perilous time in the US? Thanks!

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